What is Mortgage Protection?

Asked Aug 19, 2016
Mortgage protection is a life insurance that guarantees that your mortgage will be paid off if you die unexpectedly. It comes in different forms and the insurance company will pay off if certain events such as death, disabled or job loss occurs. Its valuable for people who working in high-risk occupations.

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Answered Aug 19, 2016

Mortgage protection insurance, or MPI, is another kind of insurance. the price of the monthly premium varies, depending on the amount of the loan and also the individual’s age and health. Some MPI policies cover a mortgage if there's a disability, and people premiums depend upon the borrower’s occupation.

If you die with a mortgage balance and have mortgage protection policy, your insurance company pays the remainder of your loan balance on to the loaner. Any heirs, like a partner or kids, won’t need to worry about creating future mortgage payments or losing the house.

Answered Oct 04, 2019
Mortgage protection is an insurance policy that protects you against mortgage when unexpected situations occur within the mortgage period.
Answered Oct 12, 2019

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